Solely Related to Consideration of Accounting Method for FSAM's Investments in its Publicly Traded BDCs

No Impact on Pro Forma Adjusted Net Income for Current or Prior Quarters

GREENWICH, CT, Nov. 14, 2016 (GLOBE NEWSWIRE) -- Fifth Street Asset Management Inc. (NASDAQ:FSAM) ("FSAM" or the "Company") announced today it has postponed the filing of its Form 10-Q and related earnings call for the quarter ended September 30, 2016. The Company has filed a notification of extension on Form 12b-25 with the U.S. Securities and Exchange Commission.

The delay in timely filing of FSAM's Form 10-Q is related to the Company's decision to revisit the accounting method previously used for its common stock ownership of Fifth Street Finance Corp. ("FSC") and Fifth Street Senior Floating Rate Corp. ("FSFR"), the publicly-traded business development companies advised by the Company. During the course of 2016, FSAM made substantial purchases of common stock shares of FSC and FSFR, causing the Company to reevaluate whether the equity method of accounting is appropriate versus its current accounting for these investments as available-for-sale securities.

Importantly, the Company believes any potential changes to the accounting method for its investments in FSC and FSFR will have no impact on Pro Forma Adjusted Net Income, the primary non-GAAP metric the company has utilized to measure performance, for the current or prior periods in 2016. The ongoing accounting method consideration at FSAM will also have no impact on either FSC or FSFR.

The Company is working diligently to complete and file the Form 10-Q within the five-day period provided by Rule 12b-25. FSAM has postponed its previously-announced conference call to discuss its quarterly financial results, originally scheduled for Tuesday, November 15, 2016, and intends to announce a new date as soon as possible.